China’s official news agency has called for “international supervision over the issue of US dollars” and for the US to “live within its means” in the wake of Standard & Poor’s decision to downgrade America’s credit rating. 

在标准普尔（Standard & Poor's）决定下调美国的主权信用评级后，中国官方通讯社新华社呼吁“美元的发行应该受到国际监督”，并呼吁美国“量入为出”。

　　The remarks underscore the frustration of China，the world’s second-largest economy and biggest holder of US debt，at having the fate of its foreign exchange reserves so intertwined with US fiscal health.

这些言论突显出，中国对本国外汇储备的命运与美国财政健康状况纠缠在一起感到郁闷。中国是全球第二大经济体，也是美国国债的最大海外持有者。

　　“The days when the debt-ridden Uncle Sam could leisurely squander unlimited overseas borrowing appeared to be numbered，”said a Xinhua commentary. “To cure its addiction to debts，the United States has to re-establish the common sense principle that one should live within one’s means.”

“债台高筑的山姆大叔能够从容挥霍无止境海外借款的日子似乎不多了，”新华社的一篇评论文章称。“美国要戒掉‘债瘾’，就必须重新树立量入为出这个常识性的原则。”

　　Despite the fiery rhetoric，Beijing’s insistence on keeping tight control over the value of its own currency means it will have to continue investing its swelling foreign reserves in US government bonds for the foreseeable future.

尽管言辞激烈，但北京方面坚持严格控制人民币汇率的做法意味着，在可以预见的未来中国别无他法，只能继续把不断膨胀的外汇储备投资于美国国债。

　　China has the largest foreign reserves in the world，with an estimated two-thirds of the $3，197bn total denominated in US dollars. It stands to lose most from any fall in the value of the US dollar.

　　中国拥有全球最大的外汇储备。在3.197万亿美元的外汇储备总额中，估计有三分之二为美元资产。若美元走低，中国将遭受严重损失。

　　On Sunday，South Korea and Japan said they had not changed their view on US Treasuries following the S&P move.

　　周日，韩国和日本表示，标普下调美国评级后，它们对美国国债的看法并无变化。

　　“Japanese authorities think there is no problem regarding the creditworthiness of US Treasuries and US government bonds will continue to be attractive assets，”a Japanese official said.

　　“日本政府认为，美国国债的信用可靠性没有问题，美国国债仍将是具有吸引力的资产，”一名日本官员表示。

　　In contrast，Xinhua said China “has every right now to demand the United States to address its structural debt problems and ensure the safety of China’s dollar assets”。

　　与此形成反差的是，新华社称，中国“绝对有权利要求美国应对其结构性债务问题，保障中国所持美元资产的安全性”。

　　There has been no official comment from Beijing since the downgrade. On Friday，China’s foreign minister called on the US to enact “responsible monetary policies to maintain the trend of global economic recovery and ensure stable development of the world economy”。He said China “hopes the US can adopt measures to ensure that the assets held by other countries in the US are safe”。

　　自标普下调美国评级以来，北京方面没有发表官方评论。上周五，中国外长杨洁篪呼吁美国“从保持世界经济复苏势头、确保全球经济稳定发展的大局出发，实行负责任的货币政策。”他表示，中国“希望美方采取切实措施保障各国在美资产安全。”

　　The lack of an attractive alternative reserve currency to the dollar and the debt crisis in Europe mean that China will be forced to continue buying dollars in the near term.

　　 缺乏足以替代美元的另一种有吸引力的储备货币，加上欧洲的债务危机，这一切都意味着中国在短期内将被迫继续购买美元。

　　Xinhua also called for the US to make substantial cuts to its “gigantic military expenditure and bloated social welfare costs” and said “a new，stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country”。

　　新华社的文章还呼吁美国大幅削减“庞大的军费和社会福利开支”，并称“一种稳定且安全的新全球储备货币，或许也可用来避免任何单一国家带来的灾难。”